India-Africa Forum Summit 2015
The Third India Africa Business Summit started on 29th October 2015 at the Indira Gandhi Stadium in New Delhi with the Prime Minister of India, Sri Narendra Modi in presence of a very impressive gathering of Heads of Government, dignitaries and high level officials from the African Continent. Some 41 heads of governments from the continent attended the summit and all 54 countries from Africa were represented at the summit.
The programme started with welcome remarks from the Minister of External Affairs, Srimati Sushma while Prime Minister Modi officially launched the summit followed by speeches from the Chairperson of the African Union, President Mugabe, the Chairperson of the African Union Commission, Dr. Nkosana Zuma.
In his inaugural speech, Prime Minister Modi pledged renewed support to assist Africa in its infrastructure, water and agriculture needs. Prime Minister Modi went on to say that India will offer concessional credit of USD 10 billion over the next 5 years, in addition to the ongoing credit programme along with USD 600 million as grant assistance. Under this grant facility, an India Africa Development Fund of USD 100 million will be set up. India will provide 50,000 scholarships and support the Pan Africa E-Network.
Some of the heads of State that attended the summit include President Zacob Zuma of South Africa, President Macky Sall of Senegal, President Al Abde Fattah Al Sisi of Egypt, President Mohamed Buhari of Nigeria, President John Mahama of Ghana, President Hery of Madagascar, amongst others. The Right Honourable Prime Minister Sir Aneerood Jugnauth also addressed the summit.
In a bid to bolster up investment from India, the Board of Investment capitalized on the Prime Minister's presence in India to launch the BOI Office in New Delhi, on 30th October 2015. The event brought together key economic actors as well as captains of the Indian industry.
30 October 2015